Minnesota Growth Loan Fund

DEED's Growth Loan Fund makes low-interest loans to technologically innovative early-stage Minnesota businesses that complement an equity raise. Loans equal 20% of equity raised in a single 12-month round, from $100,000 to $400,000, at 1% interest over seven years with principal deferred until year 4. Borrowers must be Angel Tax Credit certified or identified for investment by a venture or angel fund or an accredited investor. The program is funded through the federal State Small Business...